Sakvithi Ranasinghe gets 22 years suspended prison term

COLOMBO (News 1st); Sakvithi Ranasinghe, who was known for running an illegal finance company without the approval of the Central Bank of Sri Lanka was sentenced to 22 years in prison, suspended for five years.

The verdict was delivered by Colombo High Court Judge Amal Ranarajah after Sakvithi Ranasinghe pleaded guilty to 11 counts of obtaining millions of rupees from various people promising them a greater return on investments by operating an illegal finance company.

Ranasinghe was also fined Rs. 25,000/- for each of the 11 counts, and if he fails to pay the fine an additional six months will be added to each count.

His wife who pleaded guilty to aiding and abetting was sentenced to 2 years in prison, suspended for 5 years.

She was fined Rs. 25,000/- by the Colombo High Court as well.

The Colombo High Court judge permitted the Ranasinghe's to pay their fines on Thursday (15).